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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... Expansions, Relocations and Launches, Who's Hot, Who's Winning Business, Deals & Partnerships, Innovations, Partnerships & Collaborations, Research & Intellectual Property, Trends, Commentary, Other, Events Click here to forward to a friend or colleague who might like this newsletter. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches   | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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TNS Opens India Office RESTON--Transaction Network Services, a provider of transaction and communication solutions, will open an office in Chennai, India, to provide business development and technical support for TNS services in the Asia-Pacific region. Said TNA president Ray Low: "There is a rapidly growing market for electronic transactions and trading in this area, and the India office will ideally position TNS to offer our services in the subcontinent. With data centers in the US and the UK, TNS is now able to offer complete technical support in multiple locations around the world and in any time zone, providing global coverage." More. In Brief... CHANTILLY-365 Main Inc., a California developer and operator of data centers for lease, will open a 145,000-square-foot facility in Chantilly in September. More. VIRGINIA BEACH-The Founders Inn has opened a $5 million spa, fitness and aerobics center in a 10,000-square-foot facility, making it the only full-service, resort-style space in Southside Hampton Roads. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Parature Raises $13.5 Million in Series A Round McLEAN--Parature, provider of customer-support software, has raised $13.5 million in a Series A financing to enhance its customer support and help desk solution, as well as boost sales and marketing efforts. Said Gene Riechers, general partner of co-funder Valhalla Partners: "The software-as-a-service market is quickly gaining momentum, and while some companies are just now attempting to integrate this software model into their business strategy, Parature has already seen substantial success." More. In Brief... NORFOLK--Hampton Roads Bankshares, Inc., has commenced a rights offering of 670,000 shares of common stock to its shareholders. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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O'Sullivan to Shutter South Boston Plant SOUTH BOSTON--O'Sullivan Industries, Inc., a manufacturer of home and office furniture, will close its South Boston manufacturing and distribution facility by the end of the calendar year and shift production to its Lamar, Miss., plant. The South Boston plant employs 200 people. Said CEO Rick Walters: "The closure is a result of industry-wide excess capacity and is not a reflection on the workforce or management team in South Boston. In fact, the plant has demonstrated continuous improvement operationally and is consistently meeting customer quality and delivery requirements. However, there is an immediate need to improve capacity utilization and optimize overall company performance." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ProSight, Serco to Guide Virginia in IT Management ARLINGTON--ProSight Inc., a developer of enterprise investment management solutions, and Serco Inc., a government IT services provider, have been selected to help the Commonwealth of Virginia more effectively manage its IT assets and investments. Under a contract issued by the Virginia Information Technologies Agency, the ProSight/Serco team will automate the IT investment management process with the goal of better tracking and managing IT expenditures. More. General Dynamic Awarded $95.5 Million Contract Extension SUFFOLK--General Dynamics Advanced Information Systems has been awarded a $95.5 million contract extension to continue its support of the U.S. Joint Forces Command's Joint Experimentation Program and Joint Futures Lab. The work includes engineering, technical and administrative services. The program's mission is to develop, explore, test and assess new joint warfighting concepts, organizational structures and emerging technologies. More. IntraNexus Deploys its Sapphire System in Oswego VIRGINIA BEACH--IntraNexus Inc., a developer of information systems for hospitals, has launched its Sapphire healthcare information system, in Oswego Hospital in Oswego, N.Y. Sapphire provides clinicians with all-inclusive electronic medical records, including results reporting and a clinical data repository. Sapphire also enables clinicians to remotely access secure, any-time/anywhere patient information using any device with Web access. Built-in bar-coding capability supports automated medication administration, patient identification, and other patient-safety functions. More. In Brief... ROANOKE--ITT Industries, Inc., has won a $33 million contract from the Norwegian Defense Procurement Division for 4,400 night vision systems and accessories - the largest single night-vision contract ever awarded by the NDPD. More. GLEN ALLEN-Radio Communications, in partnership with BIO-key International, Inc., has won a contract to provide mobile data connectivity between dispatchers in Brunswick County and the sheriff's department vehicle fleet. More. MCLEAN--Global Internetworking, Inc., a telecom services integrator and network solutions provider, has been selected to support the expanding Wide-Area-Network of the Justice Federal Credit Union. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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EADS North America Wins $3 Billion Helicopter Contract ARLINGTON--EADS North America's UH-145 military helicopter has been selected by the U.S. Army as its next-generation Light Utility Helicopter. The deal calls for supplying up to 352 aircraft with a potential total program life-cycle value of $3 billion. The French-German defense giant will locate program management in Huntsville, Ala., and manufacturing in Columbus, Miss. More. Genworth Acquires AssetMark for $230 Million RICHMOND--Genworth Financial has agreed to acquire AssetMark InvestmentServices, Inc., a provider of managed account services to independent financial advisors, with more than $8 billion in assets under management. Genworth will pay $230 million for the Pleasant Hill, Calif.-based company at closing, with additional performance-based payments of up to $110 million over five years. Combining AssetMark with Genworth Financial Asset Management will create an organization with $12 billion in assets under management and relationships with 4,000 independent advisors. More. SunRise Acquires Interest in Florida Senior Communities MCLEAN-A Sunrise Senior Living, Inc., joint venture has signed an asset purchase agreement to acquire six Florida senior living communities, operated under the Aston Gardens brand name, for $457 million. Sunrise will acquire management of, and a 25 percent ownership interest in, the six communities, which have annual revenues in excess of $65 million. More. Bluegreen to Build Timeshares in Williamsburg WILLIAMSBURG-Bluegreen Corporation, of Boca Raton, Fla., has announced its plans to re-develop the old Patrick Henry Inn, and the Liberty Inn and Conference Center, located on 4.6 acres in Williamsburg. The company expects to transform the 139-room Liberty Inn into 76 one- and two-bedroom timeshare units. If successful in acquiring an adjacent parcel of land, Bluegreen plans to build another 400 campus-style timeshare units by 2011. Said Greenfield CEO George F. Donovan: "Over four million people visit the Williamsburg area each year to experience how our colonial ancestors lived and to take advantage of fine dining, quality shopping, and family-focused entertainment." More. First Potomac Spends $31 Million on Richmond-Area Buildings BETHESDA--First Potomac Realty Trust, of Bethesda, Md., has acquired a 416,000-square-foot portfolio of flex/office properties in the Richmond region from The Landmark Company for $31.0 million in cash and assumption of debt. The portfolio includes 10 buildings in Chesterfield County and four in Hanover County. The properties are expected to generate a first-year unleveraged return on the purchase price of approximately 8.1 percent on a cash basis and 9.0 percent on an accrual basis. More. ESP Senses a Good Deal with NC4 ARLINGTON-NC4, of El Segundo, Calif., has acquired ESP Group LLC, of Arlington. NC4 operates incident monitoring centers. The ESP Group (Extranet Secure Portals) develops and operates secure, Internet collaboration systems for the public and private sectors. Said ESP CEO William Potvin: "We are bringing together companies that have been delivering solutions on the ground rather than just selling tools. We share a similar client base, and the merged company will help us provide more effective and cost-efficient solutions to all customers." More. In Brief... ARLINGTON--Interstate Hotels & Resorts has invested approximately $4 million to acquire a 15 percent minority interest in an 825-suite, six-hotel portfolio of Residence Inn by Marriott properties in the greater Cleveland metropolitan area. More. RICHMOND--The Silver-McCann Apartment Group, L.P., has acquired the 332-unit St. Ives Apartments in Dallas, Ga. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ValueOptions Links Healthy Hearts with Healthy Minds NORFOLK--ValueOptions has launched an integrated cardiovascular/behavioral health initiative for its corporate customers, "Heart and Mind Connections." Behavioral health issues such as depression, anxiety and chronic stress are often silent contributors to coronary heart disease. The program focuses on the links between emotion, behavior, coping strategies and cardiovascular health. More. Trichord Introduces Portable Traffic Monitoring Systems LEESBURG--Trichord, Inc. has introduced the Portable Evacuation Monitoring System for emergency situations, portable traffic monitoring, and work-zone traffic management. These solar-powered carts equipped with wireless communications links, traffic sensors and video cameras were developed to monitor traffic congestion during mass evacuations for events such as hurricanes. Between emergencies, the units can be deployed for special events such as concerts, NASCAR races and college football games. The first major deployment began this month in Hampton to monitor construction work-zone traffic. More. ThoughtWorthy Adds Musical Engine to Website FAIRFAX--ThoughtWorthy Media, Inc., a company targeting the product-placement and spot-advertising industries, has introduced a musical engine for its website, providing a new way for television viewers to identify, interact with, and purchase the music featured in their favorite TV shows. The new feature allows visitors to easily identify the music featured in their favorite TV shows and movies. However, the music engine goes well beyond the concept of a simple list of songs by allowing fans to track their favorite songs and bands across multiple episodes, TV shows, movies, and commercials. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Partnerships & Collaborations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Afton Licenses Gasoline Additives to STP RICHMOND-Afton Chemical Corporation has designated Armor All/STP Products Company as the exclusive licenser of Afton's performance additives in North America. Selected marketers can sell gasoline that is pre-blended with Afton's additives and branded with the STP logo. Marathon Petroleum Company LLC will be the first gasoline marketer to participate in the program. More. Spectrum, Watchfire Collaborate on Government Security Solutions FAIRFAX-Spectrum Systems, Inc., a provider of IT solutions to the federal government, has signed a strategic partnership and reseller agreement with Waltham, Mass.-based Watchfire, a developer of Web vulnerability assessment software and services. Said Spectrum CEO Ronald Segal: "Federal departments and agencies today are mandated to measure and control risk and vulnerabilities on their web operations to ensure compliance with a number of regulations and requirements. AppScan is invaluable in its ability to not only catch security defects that could present a vulnerability before going live with new Web applications, but it also audits live websites for new vulnerabilities and compliance reporting." More. Carfax Expands Relationship with ARI FAIRFAX-Carfax, pioneer of the automobile vehicle history report, has expanded its partnership with Automotive Resources International, the largest privately-held fleet leasing and management company in the U.S., to include service and maintenance records in Carfax vehicle history records. Previously, ARI had reported only mileage information to Carfax for its fleet vehicles. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Wahoos Hire First of 10 National Academy Profs CHARLOTTESVILLE--Joe C. Campbell, named to the National Academy of Engineering for devising a way to change photonic signals into electronic signals, has joined the University of Virginia as Lucien Carr III Professor of Engineering and Applied Science. His appointment is the first in a Board of Visitors initiative to raise the standing of science and engineering at the University by bringing 10 researchers of National Academy caliber to the grounds. Said Ariel Gomez, vice president for research and graduate studies: "We are seeking researchers who have the capacity to transform reality -- to vastly improve the quality of life at all levels of society with their inventions and discoveries." More. New River to Investigate Drug for Hypothyroidism RADFORD--New River Pharmaceuticals Inc., has submitted an investigational new drug application to the U.S. Food and Drug Administration for NRP409, the company's Carrierwave triiodothyronine hormone, as a treatment for patients with primary hypothyroidism. New River hopes that NRP409 will mark the first significant improvement in thyroid hormone replacement therapy in half a century. More. Rolls-Royce Donates Gas Turbine to GW Engineering ASHBURN--Rolls-Royce, a provider of power systems and services, has donated a 501-K5A industrial gas turbine to The George Washington University's School of Engineering and Applied Science. Engineering students will use the gas turbine to develop a finite element computer model and conduct analysis in jet engine failure preventions as well as a range of other topics. The engine will be housed at the University's National Crash Analysis Center in Ashburn. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Picasso Paints on New Canvas at Mobile 365 CHANTILLY--Mobile 365, a provider of mobile messaging and data services, has appointed telecommunications veteran Gino Picasso as CEO. Picasso brings more than 20 years of experience to Mobile 365. Most recently, he served as CEO of Iridium, where he reorganized the satellite-powered private cellular network to address the needs of global niche telecommunications markets for the military, maritime, aviation, and energy sectors. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 Danville employment. This chart displays employment growth for Danville MSA alongside growth in Virginia. After contracting for two and a half years, year-over-year employment growth in Danville turned positive during the year ending with the fourth quarter of 2005. Over that period, employment in Danville increased by 0.4 percent (+166 jobs), while state employment rose by 2.0 percent (+71,043 jobs). Employment trends in regional labor markets are often the best overall measure of economic performance. While statistics relating to output growth, such as real gross domestic (state) product, are considered the most comprehensive performance figures for states and the nation, these data are not available for localities. For the latest analytics on labor market and workforce trends across Virginia, click here or call 804-649-1107. Virginia Tech Engineering: First PCs, then Laptops, Now Tablet PCs BLACKSBURG--Virginia Tech's College of Engineering has announced an industry alliance with Fujitsu Computer Systems Corporation and Microsoft Corp. to support its new Tablet PC computing initiative for incoming freshmen. Fujitu's Tablet PC offers a keyboard for typing but can transform into a tablet configuration that allows students using a stylus to make handwritten notes and drawings. In 1984, the college was the first public institution in the U.S. to require its entering engineering freshmen to own a personal computer. In 2002, the college moved to a laptop requirement and many of its academic buildings were outfitted to offer wireless communication capabilities. Said Engineering Dean Richard Benson: "With our decision to move to Tablet PCs, our College of Engineering continues to be a leader in technology for engineering education." More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jacksonville's Take on the Oceana Naval Station JACKSONVILLE-A Jacksonville, Fla., coalition lobbying to relocate Oceana's Naval Air Station to Cecil Field in Jacksonville, argues that the move would have a huge positive economic impact. It would: * Bring more than 31,000 high-quality jobs to Jacksonville with an average salary of more than $50,000; * Increase the economy of Jacksonville by $2.6 billion annually; and * Improve the opportunities and lives of thousands of Jacksonville residents. Presumably, Jacksonville's gain would be Hampton Roads' loss. More. NuRide Signs up Austin Grill in Ride-Sharing Promotion RESTON--NuRide, Inc., an incentive-based ridesharing network, has signed up Austin Grill, a local group of Tex-Mex restaurants, to sponsor thousands of commuters who share rides through NuRide. The NuRide website calculates mileage savings for each trip and awards participants with points for each confirmed ridesharing trip, which can be redeemed with participating sponsors for gift cards, gift certificates, show tickets and various other rewards. More. WeatherBug Strikes Accord with Silicon Valley Bank VIENNA--AWS Convergence Technologies, Inc., owner of the WeatherBug brand of products and services, has selected SVB Silicon Valley Bank for financial services and term-debt facilities. The relationship will provide AWS with additional long-term financing for potential acquisitions and international expansion in the future. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Why Not Webb? Senatorial candidate Jim Webb exerts a strong, gut appeal for many Republican constituencies. He could give Sen. George Allen a good run for his money. More. |
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Dumb as Rocks If the "fiscal conservatives" in the House of Delegates think they held the line against spending in the state's new $74 billion budget, John Chichester's epithet may well be justified. "God, they're dumb as rocks." --State Sen. John Chichester, referring to the House Delegates of the Virginia General Assembly during the 2006 budget negotiations. Obviously, State Senator John Chichester, R-Northumberland, does not think much of his colleagues in the House of Delegates. Chichester, who is affectionately referred to in this column as the "'tax them until they're dead and then hit them with the death tax' Commissar," firmly believes no tax increase is sufficient to satisfy his cradle-to-grave "spending priorities." More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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VA Newswire is a free, email-based weekly newsletter that covers news and events from around the state. If you have any news, events, job openings, or office space availability that you would like to include in next week's newswire, email jabacon@baconsrebellion.com. Click here for a free subscription. Click here to unsubscribe. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
